Korea's "2024 Scale-Up Incheon Global Challenge" Program Presents Standards for Start-Up Companies to Expand Overseas

San Francisco, CA, December 24, 2024 --(PR.com)-- South Korea, Incheon Technopark (ITP), in partnership with The Vault Korea, has successfully concluded the “2024 Scale-up Incheon, Global Localization Challenge" program. Following the kickoff held on June 12 in Incheon, South Korea, the initiative, supported by Incheon Metropolitan City and Incheon Technopark, 20 Incheon City startups successfully completed both Phase 1 and Phase 2. Out of 20 participating companies, 8 advanced through all stages, culminating in a 1 week program in the heart of Silicon Valley, San Francisco, USA.

Launched in 2018, the "Incheon Scale-up Global Challenge" is a government-supported program designed to help local startups and scale-ups prepare for entry into the US & global markets. Through this initiative, participating companies gain critical experience and knowledge required for U.S. market expansion through a focused network of mentors, business development support experts, and investors to leverage their industry & local expertise for growth.

Through an on-site program in San Francisco, participants introduced their products at offline showcases, had on-sites at prominent technology companies such as Tesla, and presented their business models to potential business partners and investors. Woohyeok Im, CEO of MOTOV, said, “One of the highlights of the program was a joint pitching session with Techstars cohort companies at Galvanize SF.”

The "Scale-up Incheon, Global Localization Challenge" is expected to serve as a key platform for invigorating local startups’ dreams for US expansion while providing concrete networks to fuel their localization efforts.